Associate – FICC Trading (Mortgage Products)

Rodrigo Calvo Team

Role Overview

The Associate will join the FICC Trading Mortgage Products team, supporting day‑to‑day trading activity across a range of agency and non‑agency mortgage products. This role sits directly on the trading desk and requires strong markets acumen, sound risk instincts, and the ability to perform in a fast‑paced, high‑pressure environment. The Associate will partner closely with senior traders, sales, research, and risk to help manage positions, analyze market dynamics, and drive franchise growth.

Key Responsibilities

• Support the trading desk in managing positions, risk, and P&L across mortgage products (e.g., Agency MBS, TBA, specified pools, CMOs, and related derivatives, as applicable).
• Monitor market conditions, spreads, flows, and macro/micro drivers impacting mortgage valuations.
• Assist in pricing, trade execution, and post‑trade analysis; ensure accurate booking and lifecycle management of trades.
• Develop and maintain analytical tools and models to support trading decisions, relative value analysis, and risk management.
• Partner with Sales to ensure efficient client execution and high‑quality market color.
• Work closely with Operations, Risk, Compliance, and Technology to ensure robust controls and smooth trade processing.
• Contribute to desk initiatives, automation efforts, and process improvements as the platform evolves.

Qualifications

• Bachelor’s degree required; strong academic background in finance, economics, mathematics, engineering, or a related field preferred.
• Prior experience in FICC trading, mortgage products, structured products, or related markets strongly preferred.
• Solid understanding of fixed income fundamentals, interest rates, and mortgage market mechanics.
• Strong quantitative, analytical, and problem‑solving skills; advanced Excel required, with Python or other programming skills a plus.
• Ability to manage multiple priorities, make decisions under time pressure, and operate with a high level of detail and accuracy.
• Strong communication skills and the ability to work collaboratively on a trading desk.
• Demonstrated interest in global markets and trading as a long‑term career.